SRAM has announced that its CFO Mike Herr is to retire after 28 years with the company.
Heather Bridges has been named as SRAM’s new CFO, who will take over later this year after a transitional period.
Herr has led SRAM’s finance and IT departments for nearly 24 years, helping to grow SRAM from a single product start-up to a billion-dollar company that has strategically evolved into one of the largest suppliers in the cycling industry.
Herr also led the integration of 12 acquisitions, including RockShox, Zipp, Time and, most recently, Hammerhead and Velocio. Herr also managed SRAM’s relationships with the financial community and investors.
“I am sad to leave, of course, but happy to look ahead to more time for family, hobbies, adventures, and bike riding. I will undoubtedly stay closely connected to my SRAM family,” said Herr.
SRAM CEO Ken Lousberg said: “Mike has been the consummate CFO, and he has served as a great thinking partner to SRAM founder Stan Day, then me, and the entire senior leadership team. He and his team do an exceptional job managing critical finance tasks from managing risk, closing the books, tapping into the capital markets, and ensuring our information systems help drive good decisions for the business. I count SRAM as incredibly lucky to have had Mike’s leadership over these past 28 years.”
Bridges joins SRAM as CFO and will lead SRAM’s global finance and information technology functions, reporting to Lousberg.
Most recently, Bridges was executive vice president and chief financial officer at Halo Branded Solutions. Earlier in her career, she spent 19 years with SC Johnson, where she served as CFO of the Professional Division and led finance for the North American region. She began her career in finance with Proctor & Gamble.
Bridges will be based in SRAM’s Chicago global headquarters.
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She said: “I am delighted to join SRAM as CFO. I have been deeply impressed with SRAM’s mission, the quality and passion of our people, and the impact we have on the industry. Stan, FK, Ken, Mike, and countless others have built an extraordinary organization.
“I am honoured to contribute to the next chapter of SRAM’s success for our customers, teammates, and the communities we serve.”
Lousberg added: “Heather brings immense experience, and we are excited to have her working alongside our dynamic leadership team.”